Should we use savings to pay off debt? Debt free journey update!

Happy DEBT FREE DECEMBER!

Let's chat about options. This was not the original video I had planned for today but I feel like we are at a crossroads of our journey and I want to talk about it. Leave me a comment down below and let me know your thoughts!

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[DearDebt]

Let me know your thoughts in the comments! Thank you all so much for your support on my journey ❤️

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See you in my next video! XO, Amy

[skoopqueen]

I wasnt financial free until my 40’s and I’m still in my 40’s, bought my second house already, earn on a monthly through passive income and got 4 out of 5 goals, just hope it encourages someone that it doesn’t matter if you don’t have any of them right now, you can start TODAY regardless your age INVEST and change your future! Investing is a grand choice I made. Great video! Thanks for sharing!
Very inspiring!

[BookSuburbia]

Amy, its a no brainer: USE IT. Do the math on how much you've been paying EACH MONTH, for the last 3 months in debt alone, which u already know where it came from, and that money that you would've otherwise used for debt, use it to replenish ur emergency fund in 3 additional months. Don't think it too much cause otherwise ull hesitate. God willing NOTHING of pressing matters will happen in the next 3 months and ull be able to even increase that fund by more than 50%. Trust me, I did exactly that and i survived. I prefered to deplete more than 1/2 my savings than pay a dime more in debt. Its worth it in the end

[reetae]

When I was down to my last $4000 on my student loans I used about 1, 500 from my savings to finish it off. Don't hold onto those loans, if you're able to pay them off quickly DO IT! let the burden go! 💜

[JoyLoves-kgvy]

Hi, Amy go for it and don’t look back.being debt free is what of us desire and your family is there.

[kbbruner]

I would 100% pay it off. You're talking about 2-4 weeks max without those funds. You seem to have plenty of emergency savings and health savings if needed. And the emotional weight being lifted to be debt free would be huge! Congratulations!

[debtfreeF]

i would pay it off with my savings lol the idea of being debt free starting 2022 is so satisfyingggg

[patcole]

Pay it off! You will put that money back very quickly. I don’t think $1200 will make or break you at this point. You have worked so hard I say get rid of it! No wrong answer. Very excited for you.

[adventureswithmartaandgreg]

Pay it off girl, start New Year with $0 in debt and replenish the EF with that payment that would be meant in January towards paying the debt! Pay it off!

[melissahensley]

Pay it off for the bragging rights of having paid your student loans off in 2021. You will be able to replenish your savings very quickly in January. A 5100.00 emergency fund is sufficient for a 2 week period in my opinion. Just go for it.

[Kelly_Nicole]

I agree pay it off!! I took from my savings and paid off debt and it was all worth it! Then all my income just went straight to my account and I didn’t have to worry about consumer bills! It feels good! ❤️🤑

[alisons]

I would pay it off! Start 2022 with a bang. You’ll get the saving built up quickly. The emotional weight lifting off outweighs the emotional hit of the savings. Good luck with whatever you decide! <3

[micheller]

If there was interest involved, I would say definitely pay it off. I would still pay it off totally. I used my savings to pay off my mortgage a few months early and it felt amazing. Finish 2021 off with a huge accomplishment. Congratulations.

[monicaambs]

This is a no brainer. What are the biggest things that could happen until you next payday? A HVAC (nope its winter) a furnace (unlikely as you haven’t spoken about it) and you have enough for the cost of the new baby. Go for it. You will replenish it quickly.

[laurenscarpa]

Go for it and start the New Year fresh! You have the savings and the HSA. New Year, less stress!

[managing_the_motherload]

I say... Do it! Eeeekkkk! I know the unknowns feel overwhelming, but you're so close. ❤️

[andreamccarthy]

I was very pro paying it off after your last budget video but this video has changed my mind…
I think the idea of dropping your emergency fund to finish the debt is making you very anxious (I can hear it in your voice) so if you need that extra security of a little extra money then hold firm and you can pay it off in the new year
You also at the end of the video mentioned Dave Ramsey - his advice coming up to pregnancy is to pause your debt snowball and pile up cash and then when mom abs baby are home safe and well from hospital then you hit unpause and restart the process …
I will be proud of you either way having followed along this journey with you ! Have a think and talk to your husband and let us know Friday!

[gigiruiz]

It’s a no brainer for me! Pay it off today! Start 2022 off fresh and DEBT FREE! Congratulations 🥳

[juliedrost]

Personally, if you have set aside the money in the January budget, use that…paying off the debt is NOT an emergency…please leave the emergency fund for baby if needed…you never know what could happen…

[lovelandrestoration]

Do it mama!! Especially considering the amount you have in hsa, and the amount you have been putting toward debt, you could have your savings back up with in the month!!